August, 2018

• 15 August

  Tiffany & Co maps three-year renovation of vital flagship store

  

  Bloomberg Holly Golightly take cover: Tiffany & Co. is renovating its 10-floor New York City flagship store on Fifth Avenue. The jeweller plans to spend as much as 2 percent of its worldwide net sales on the renovation over the next three fiscal years, which could peg the total cost at as much as $250 million, according to Bloomberg calculations ...

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• 14 August

  Emaar Properties’ H1 revenues surge 46%

  

  Dubai / Emirates Business Emaar Properties recorded revenue for first half of 2018 of AED11.474 billion ($3.124 billion), 46 percent higher than H1 2017 revenue of AED7.866 billion ($2.142 billion), led by strong construction progress and growth in malls business. Emaar’s net profit grew by 18 percent to AED3.344 billion ($910 million), prior to considering the effect of IPO of ...

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• 14 August

  India’s trade gap hits 5-year high in July

  Bloomberg India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low after a Turkish lira-led sell-off in emerging-market currencies. The trade deficit — gap between exports and imports — was $18 billion in July, fanned by a higher oil import bill, data released by India’s ...

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• 14 August

  UAE, Zanzibar to bolster ties

  ZANZIBAR / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, headed a UAE delegation to Zanzibar where discussions were held surrounding the enhancing of bilateral relations and cooperation. During the visit, Al Hashemy reaffirmed the UAE’s foreign policy to strengthen bilateral ties and build bridges of cooperation with the African continent based on the principles of ...

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• 14 August

  Dubai Chamber waives late membership fees

  

  DUBAI / WAM The Dubai Chamber of Commerce and Industry has announced that it will waive late membership fees in an effort to reduce the cost of doing business in Dubai and enhance the competitiveness of the emirate’s private sector. The move falls in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and ...

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• 14 August

  Bryan Thompson named new CEO of Abu Dhabi Airports

  ABU DHABI / WAM Bryan Thompson has been appointed Chief Executive Officer of Abu Dhabi Airports. Thompson brings with him more than 25 years of international experience in various areas of airport management and operations, including ANS, terminal operations, strategy and planning, in addition to infrastructure and corporate development. In his previous role as Senior Vice President — Development at ...

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• 14 August

  DGCX-DIEDC deal to boost Dubai’s status as Islamic economy hub

  

  Dubai / WAM The Dubai Gold and Commodities Exchange (DGCX) and the Dubai Islamic Economy Development Centre (DIEDC) on Tuesday signed a Memorandum of Understanding (MoU) to share knowledge, promote Shari’ah-Compliant finance, and help foster Dubai as the global capital of Islamic economy. Abdulla Mohammed Al Awar, CEO of DIEDC, and Les Male, CEO of DGCX, signed the agreement at ...

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• 14 August

  National Takaful posts 190% increase in first-half profit

  

  ABU DHABI / Emirates Business Watania Takaful Company, one of the leading insurance companies in the UAE, announced on Tuesday a net profit of AED7.8 million for the first half of this year the company delivered, marking an increase of 190 percent compared to AED2.7 million in the same period last year. The company pointed out the most notable feature ...

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• 14 August

  UAE’s role in Yemen hailed by global relief organisations

  ADEN / WAM A number of international relief organisations have praised the humanitarian, development and service initiatives of the UAE in Yemen, and the country’s eminent role in easing up the scourge of the embattled country’s current humanitarian situation and supporting Yemeni households across the liberated governorates and districts. This came during discussions in Aden between Saeed Al Kaabi, UAE ...

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• 14 August

  UAE Hajj Mission geared to offer quality health services

  MECCA / WAM The UAE’s official Hajj mission has reaffirmed readiness to ensure best healthcare services to the country’s pilgrims during their stay in the Kingdom of Saudi Arabia. A total of eight field teams, including mobile clinics, have been formed by the Ministry of Health and Prevention to provide healthcare services, with each team to be comprised of a ...

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